AGP Executive Report
Last update: 2 hours agoService Disruption: A Westpac outage left thousands of customers unable to use the app and online banking, prompting renewed scrutiny of banks’ digital reliability. Mortgage Pressure: New research says the gap between market funding costs and standard mortgage rates could add substantial interest over a loan’s life, though the comparison is theoretical and does not prove excess bank profits. Borrower confidence has also hit a four-year low after the RBA’s latest rate rise. Lending: Thinktank has raised loan limits, lifted eligible apartment LVRs to 80% and eased income-document requirements for some self-employed borrowers. Banking & Investment: ANZ reported a 31% rise in annual cash profit to $7.6 billion, while warning of volatility. RBC has agreed to acquire Australian fund manager Yarra Capital Management. Regulation: APRA has finalised a simpler bank-licensing framework, and non-bank lenders are beginning to join Australia’s Consumer Data Right.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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